According to real-estate agents, now is the time to buy property in Slavonija and Baranja
While prices for real-estate on the coast and around Zagreb are regularly over several thousand euros per square metre, Slavonia is a different story. Bad economic situation, a new wave of migrants moving to foreign countries has created a situation where real-estate in the rural parts of Slavonia, 20 km away from Osijek in every direction, just cannot be sold causing huge price drops, reports T-portal on November 29, 2015.
Real estate agents are stating that most of them have only managed to sell one or two weekend houses in this area in the last 12 months: “There is almost no interest from buyers for properties in the wider Osijek area. We cannot sell anything, even though prices are extremely low” one of them said.
Houses in pretty decent condition on large parcels can be found for as little as 6 000 euro. In the Erdut area which lies on the Danube shores and has a serious tourism potential, at the moment you can buy a whole complex which includes 7 construction land plots with one house and two guest houses that require adaptation for 33 000 euro.
“The cheapest property we had was a building land plot with a valid building permit which was selling for only 4 euro per square metre” one of the agents describes the current situation around Erdut.
Osijek Baranja County is highly ranked among those locations in continental Croatia where real estate prices have dropped the most compared to the same period last year and it is one of the counties with lowest property prices in general according to the survey conducted by online classifieds portal Njuškalo.hr
Lowest house prices are recorded in Požega Slavonia County at below 400 euro per square metre. Cheapest apartments are listed in Vukovar and Vinkovci where the average price is around 718 euro per square metre. Houses in Osijek are sold for 562 euro per square metre on average.
‘Since 2003 when we started listing prices in euro, prices continued to rise in the next 6 years, culminating in 2010 and now they are on the same level they were in 2003. This is the realistic picture, realistic market value. It can vary two to three percent but not more than that” agents comment on the current price trends.
Agents do believe the situation will soon change and believe this to be the perfect time to buy: “Someone will buy these properties, Slavonija and Baranja are not across the world and people will find it interesting to have their own piece of land where they can grow vegetables or build a holiday house away from the city crowds” they conclude.
